While the economists and critics of the country widely debate the downside of the IMF (International Monetary Fund) programme, very little is said about its upside.

In case of Pakistan, notwithstanding the fact that the downside of the IMF programme is severe and inevitable, out of these compulsions, a kind of upside of the IMF programme has also surfaced.

The IMF has checkmated the government of the day to do which no government of the past volunteered to do it mainly due to political expediency. In focus is the enforcement of tax on agriculture income in conformity with corporate tax on industry and businesses, downsizing of superfluous structure of government entities and ministries and privatization of loss-making public sector enterprises.

A number of previous IMF programme included these conditions but the government of the day managed to go around it and IMF overlooked its compliance.

But, the current IMF programme is not letting it go this time and the government knows too well that IMF means business and the government has no choice but to comply with the lender’s stipulations or conditions.

In March 2025, the government and IMF are due to hold first review of the Extended Fund Facility (EFF) programme,........

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